CASASCIUS PHYSICAL BITCOIN - In Stock Now! (pic)

[scotjam]

Is it an option to sell just commemorative coins and send the empy holograms with it and we fund the coin?
People can always check in the blockchain if the coin is funded before they buy one. As long as the holograms is intact, there should not be a problem...

That would certainly be risky, because if anyone found a way to remove / reprint the "first 8 bits" on the hologram, they would not need to ever fund the coin; they could just change the address on the back to one that is funded and sell it. Also, it would break the current trusted casascius standard which is that "as long as the hologram is intact, a casascius coin is funded"

scotjam

[1714269073]

1714269073

[gentlemand]

I think funded coins coming from the man himself is very important.

I was lucky enough to order a silver 1 BTC coin a couple of days before his announcement. It's a beauty. I really hope a way is found for other people to keep on obtaining them in the future.

[dnaleor]

I think funded coins coming from the man himself is very important.

I was lucky enough to order a silver 1 BTC coin a couple of days before his announcement. It's a beauty. I really hope a way is found for other people to keep on obtaining them in the future.

he should smuggle them to Europe

[merv77]

so that's it? Not selling any more? what happens with what's left?  I'll sell them for you in Australia.  would that work?

what if he gave them away for a donation?  could this work?

I don't know what I'm talking about, but surely there's got to be a way.  I've been eyeing the 4 coin set and wanted to buy sooner or later and I never though it would be shut down.  

[gentlemand]

I guess as long as they originate from him it doesn't matter where in the world they're sold to. Unless he's fully established in another country or floating about in international waters it's something that would have to be addressed at source.

Hopefully a workaround or a compromise will turn up soon. Prequalifying buyers is mentioned. Perhaps that's enough.

[mrefish]

I don't think this news story has been posted here yet:

"U.S. Government Nastygram Shuts Down One-Man Bitcoin Mint"
http://www.wired.com/wiredenterprise/2013/12/casascius/?cid=co15653054

This might be a good project for the Foundation.

The boundaries of regulation are often set by litigation.

[SgtSpike]

Is it an option to sell just commemorative coins and send the empy holograms with it and we fund the coin?
People can always check in the blockchain if the coin is funded before they buy one. As long as the holograms is intact, there should not be a problem...

That would certainly be risky, because if anyone found a way to remove / reprint the "first 8 bits" on the hologram, they would not need to ever fund the coin; they could just change the address on the back to one that is funded and sell it. Also, it would break the current trusted casascius standard which is that "as long as the hologram is intact, a casascius coin is funded"

scotjam

If anyone found a way to remove / reprint the first 8 bits, it would be a problem regardless of whether it is a Mike-funded or user-funded coin.

And it doesn't break the trust.  Mike can still provide the private key behind the hologram, but the user just sends funds to the full address after it arrives.

I think funded coins coming from the man himself is very important.

I was lucky enough to order a silver 1 BTC coin a couple of days before his announcement. It's a beauty. I really hope a way is found for other people to keep on obtaining them in the future.

What about waiting to fund it until it is delivered?  Then you're not sending any money through the mail, you're simply sending it electronically after the fact.

[klondike_bar]

And it doesn't break the trust.  Mike can still provide the private key behind the hologram, but the user just sends funds to the full address after it arrives.

The fact is : if the user don't fund the coin and sell it, trust is broken

I agree partially. While obvious sense says "check the firstbits before buying", the purpose of these coins is that they hold the same amount of BTC as indicated by the face value. To allow coins to circulate that have a face value different from the loaded value would affect the trust mechanism.

ps: my gold-plated coins arrived today just waiting on address confirmation and loading

[DobZombie]

Might be time for mike to retire.  He's got a ridiculous stockpile of bitcoins

The little guys might be able to get their foot in.

what about smoothie, he's in Hawaii.  Would this affect him too?

[dnaleor]

what about smoothie, he's in Hawaii.  Would this affect him too?

I asked myself the same question. He probably did not (yet) came onto the radar of the regulators...


Maybe Mike "Casascius" Caldwell should move to Alderney?

[bitmarket.io]

what about smoothie, he's in Hawaii.  Would this affect him too?

I asked myself the same question. He probably did not (yet) came onto the radar of the regulators...


Maybe Mike "Casascius" Caldwell should move to Alderney?

He shouldn't have to move. He should fight it and win. Has my support!

[molecular]

That news is frightening, however it makes all Casascius coins even more valuable than before

 

maybe it's just good marketing?

[molecular]

That news is frightening, however it makes all Casascius coins even more valuable than before

 

More valuable, but I will never own a gold casascius if mike cannot continue his job  

Good luke Mike, maybe you should come in france or any other country that let you stick numbers on a token

indeed...

Happy for the valuation of the coins, but very very sad because a great project died

I want a gold casascius too!


Is it an option to sell just commemorative coins and send the empy holograms with it and we fund the coin?
People can always check in the blockchain if the coin is funded before they buy one. As long as the holograms is intact, there should not be a problem...

Yes. Keep in mind, though: People would have to check not only the firstbits, but the full published coin address. Firstbits is easily faked.

[molecular]

Right, we can resell for him in europe

But I'm not sure FINCEN is ok if he resells only to europeans 

Quite honestly I don't even understand the FINCEN claims. How is Mike a money transmitter if no USD ("real money") is touched?

[odolvlobo]

Quite honestly I don't even understand the FINCEN claims. How is Mike a money transmitter if no USD ("real money") is touched?

I don't know what FINCEN's specific claims are, but he is literally a money transmitter. Someone sends him bitcoins ("convertible virtual currency") and he mails bitcoins to someone. I doubt they are concerned about him selling single small denomination coins, but he does sell large denominations (100 BTC bar) and coins in bulk (rolls of 20 or 50 BTC) that are worth multiples of $10,000.

what about smoothie, he's in Hawaii.  Would this affect him too?

Last I heard, Hawaii is still in the U.S.

[molecular]

Quite honestly I don't even understand the FINCEN claims. How is Mike a money transmitter if no USD ("real money") is touched?

I don't know what FINCEN's specific claims are, but he is literally a money transmitter. Someone sends him bitcoins ("convertible virtual currency") and he mails bitcoins to someone. I doubt they are concerned about him selling single small denomination coins, but he does sell large denominations (100 BTC bar) and coins in bulk (rolls of 20 or 50 BTC) that are worth multiples of $10,000.

That's just ridiculous, isn't it? Why would anybody who wants to transmit some bitcoins from point A to point B choose such a cumbersome method (buy overpriced physical token and have it snail-mailed somewhere, that's like printing out an email and faxing it to someone who OCRs it) when the virtual bitcoins can be sent to any address via the blockchain for a low transaction cost. Let alone the fact that the bitcoins aren't even on the coins during the shipping process. They're sent to the coins addresses via the blockchain afterwards, specifically to avoid customs trouble.

I think the only difference here is that they have a guy to pin this down on. Otherwise it would mean that any blockchain transaction constitutes money transmitting.

[odolvlobo]

Quite honestly I don't even understand the FINCEN claims. How is Mike a money transmitter if no USD ("real money") is touched?

I don't know what FINCEN's specific claims are, but he is literally a money transmitter. Someone sends him bitcoins ("convertible virtual currency") and he mails bitcoins to someone. I doubt they are concerned about him selling single small denomination coins, but he does sell large denominations (100 BTC bar) and coins in bulk (rolls of 20 or 50 BTC) that are worth multiples of $10,000.

That's just ridiculous, isn't it? Why would anybody who wants to transmit some bitcoins from point A to point B choose such a cumbersome method (buy overpriced physical token and have it snail-mailed somewhere, that's like printing out an email and faxing it to someone who OCRs it) when the virtual bitcoins can be sent to any address via the blockchain for a low transaction cost. Let alone the fact that the bitcoins aren't even on the coins during the shipping process. They're sent to the coins addresses via the blockchain afterwards, specifically to avoid customs trouble.
I think the only difference here is that they have a guy to pin this down on. Otherwise it would mean that any blockchain transaction constitutes money transmitting.

Bitcoins sent through the block chain are traceable, while bitcoins sent through Mike are not. Furthermore, transactions using his coins are as anonymous as cash, so they probably want to know who is buying his coins.

[Thyatis]

All he needs to do is call it a safe boom no longer currency

[see]

is there any coins left?

[klondike_bar]

is there any coins left?

wow... couldnt bother reading the thread back a page or two huh? Hes clearly not selling anymore coins at this time

how'd you get out of the noobie section with only 5 posts?